Unemployment Is An Inevitable Part Of An Economy - 858 Words

Unemployment is an inevitable part of an economy. There are different ways in identifying which unemployment fit into what category. And we are going to come across four individuals with four different scenarios about how they became unemployed. In this essay, I will be applying the theories of unemployment, the individual may be possessing. For those who do not know what unemployment is I will clarify. Unemployment is the category which includes individuals who were not employed, were available for work, and had tried to find employment during the previous weeks and also includes those waiting to be recalled to a job from which they had been laid off. As we continue on, we will verify the different accounts and will see which of these individuals may also qualify for unemployment benefits. The first individual, Marcelle, used to work full time in an automobile manufacturing firm until he was laid off by the company because of market contracts. Marcelle also states that he have been looking very hard for work, but have not had any luck yet. Based on the information marcelle provided me with, I can hypothesize that this is happening because of cyclical unemployment. This type of unemployment happens when the normal rate of unemployment around the which the unemployment rate fluctuates. There are always some workers without jobs, even if the economy is doing well. And as of this moment, the economy is not doing so well according to the Marcelle; who says this is happening toShow MoreRelatedUnemployment : The Hardest Work784 Words   |  4 PagesUnemployment: The Hardest Work Macroeconomics studies the behavior and the performance of the economy as a whole. Two of the main topics analyzed in macroeconomics are the long run economic growth and short run fluctuations in output and employment associated with business cycle. One of the problems evidenced over the course of business cycles is unemployment. 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